What's the difference between paying off $55 million versus $65 million over 30 years at 7-10% interest?
I don't think it matters...the City of Newport Beach will go into major debt to pay off a City Hall, which it is safe to say, a huge majority of its residents will never set foot in and which will house even more City Employees (we all know that Newport Beach leads our neighboring Cities, including Democrat-led Irvine, in the Citizens to City Employees ratio) than we know what to do with.
Lose Lose Situation.
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